KBC Ireland to prepare for Central Bank tracker fine

It also sold €260m of corporate loans to Bank of Ireland as restructuring continued

Irish mortgage market is growing at half the rate KBC Bank Ireland expected a year ago, it said. Photograph: Bryan O’Brien

Irish mortgage market is growing at half the rate KBC Bank Ireland expected a year ago, it said. Photograph: Bryan O’Brien

KBC Bank Ireland will set aside money by the end of September to cover a likely Central Bank fine for the part it played in the industry-wide tracker mortgage scandal, making it the last of the State’s five main banks to start making such provisions.

Chief executive Peter Roebben told The Irish Times on Thursday, as the Belgian-owned bank reported a 78 per cent decline in net profit in the first half, that it had not yet ringfenced money for a fine.

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